Despite potential to serve a broad range of applications ranging from mobile payment (m.payment) to device pairing, NFC is still challenged to gain broader adoption across all regional markets. While pockets of intense NFC activity certainly exist, the technology has yet to fulfill its billing as the "next big thing." VDC remains cautious in its NFC outlook, especially for m.payment applications. While we are bullish on the concept of mobile payment, we are not convinced that NFC is - or will be - the best way to enable this application. It certainly will not be the only way.